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Indian markets open weak
Mon, 21 Sep 09:30 am

The major Asian stock markets have opened the day in red. Stock markets in Japan, Hong Kong and Singapore are down by 2%, 1.3% and 0.6% respectively. The major stock indices in the European markets had ended last week on a dismal note. The benchmark index in US had closed last session down by 1.4%. The rupee is trading at 65.82 per US dollar.

Indian stock markets have opened the day on a disappointing note. BSE-Sensex is trading down by 190 points (down 0.7%) and NSE-Nifty is trading down by 60 points (down 0.7%). Both S&P BSE Midcap and S&P BSE Smallcap are trading down by 0.5% and 0.2% respectively. Sectoral indices have opened the day on a negative note with stocks from banking, fast moving consumer goods and metal sector witnessing maximum selling pressure.

As per an article in Livemint, Hinduja Leyland Finance Ltd (HLF) a subsidiary of Ashok Leyland Ltd is planning to raise Rs 6-6.5bn through an Initial Public Offer (IPO). The subsidiary is in the business of providing customized finance for utility vehicles, tractors, cars and two-wheelers. The firm is planning to list on the stock market by the second half of the next financial year. The company has recently diversified its business by entering into housing loans category. As of 31 March, HLF had Rs 6.5bn in assets under management and a presence across 1500 locations. The stock of Ashok Leyland is trading down by 0.7%.

As per an article in Economic Times, Dabur is preparing to take on the might of MNCs in the professional skin care and salon market. The company is set to launch a range of new professional facial products under the 'OxyLife' brand. This will also mark the company's foray into the male professional grooming market. The firm is scheduled to roll out new professional skin care products in the domestic salon & spa market with a new launch slated every quarter. Dabur will host special sessions for professionals across the country where renowned beauty consultants and cosmetologists will train the parlour professionals. The stock of Dabur is trading up by 0.1%.

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